"Good results from index heavy weights continue to add liquidity while country’s largest PSU bank’s interest rate cut decision attracted investors to the banking stocks due to an expectation of more peers to follow the trend. Additionally, moderation in inflation to below RBIs target of 4% heightened the expectation of rate cut during the next monetary policy."

"SBI’s move to ease CASA liability spiced up an expectant market ahead of RBI MPC meet, when a rate cut is highly anticipated. Banks and other rate sensitives went up on cue, but defensives were seen reluctant to push higher.”